A former chairman of one of Egypt's major banks was arrested Monday on charges of sexually abusing a maid at a Manhattan hotel, just weeks after the arrest of former International Monetary Fund chief Dominique Strauss-Kahn on similar allegations, police said.
Andalusia has the highest unemployment rate among Spain’s 17 regions, 29.7 percent at the end of the first quarter, according to the National Institute of Statistics. That compares with a national jobless rate of 21 percent, double the European Union average.
Cyprus has become the latest victim of the financial crisis in neighboring Greece after its credit rating was downgraded by ratings agency Fitch Tuesday.
Some market players have said Italy will be the next to ask for a bailout but Federico Ghizzoni, chief executive of Italian bank Unicredit, told CNBC that the country is in a totally different situation than Greece.
The Bank of England (BoE) was warned by the British Chambers of Commerce (BCC) on Monday that raising interest rates before November risked damaging the recovery of the UK economy.
Reports that Greece has not met any of the fiscal targets set by the International Monetary Fund (IMF) and the European Union (EU) as part of its 110 billion euros ($157 billion) bailout knocked down the euro Monday, as other countries in the euro zone are threatened with being dragged into the Greek morass.
Russian Prime Minister Vladimir Putin has hinted that there is more to Dominique Strauss-Kahn’s arrest on charges of sexual assault than meets the eye, according to various media reports.
Those fearing the effects of Greece’s parlous economic state on the euro shouldn’t worry as long as the currency has support from China, according to a currency analyst.
The first thing Silvia Huelves was told when she started studying architecture was that she should take up Chinese or Japanese -- she was never going to build anything in Spain any time soon.
Fears over the continuing European sovereign debt crisis and weaker than expected economic data from the US helped to push the price of US Treasurys up and take yields to a six month low on Thursday as investors looked for safety.
Asian investor appetite is boosting the euro and sending kiwis skyward. Time for your FX Fix.
The Organisation for Economic Cooperation and Development (OECD) warned the British government on Thursday that it must ease the pace of deficit reduction or risk damaging the recovery of the UK economy.
Greece may be forced out of the euro if tough austerity measures are not successful, a high-profile Greek politician said in a statement on her website.
Think a Greek debt restructuring can be avoided? This pro says no - and he's not even sure the euro zone should hold together.
The UK has failed to make enough structural changes to its economic model to avoid another financial crisis, Vince Cable, the UK’s Secretary of State for Business, Innovation and Skills told the New Statesman magazine.
Ireland’s economy will take longer to recover from its current slump than from the recession of the 1980s, John Bruton, former Prime Minister of Ireland and European Union Ambassador to the US, told CNBC.com on Wednesday.
Greece should receive another tranche of aid from the European Union to enable it to have a second chance and restructure later, according to an analyst.
Greece will not have a snap election, the office of the Greek Prime Minister told CNBC Wednesday in response to market speculation that affected the euro late Tuesday.
The Greek government is unsurprisingly unable to find consensus on new, even stronger austerity measures aimed meeting the terms of its bailout by the European Union and the International Monetary Fund.
European leaders are pushing to impose measures that would ensure the Greek government lives up to its promise to deliver €50 billion ($70 billion) in privatization proceeds, amid skepticism that Athens can carry out the sell-offs reports the FT.